CGS International Securities (Thailand) (CGSI) highlighted in its analysis that U.S. President Donald Trump has confirmed sweeping new tariffs on at least 14 countries, effective from August 1st. Japan will face a 25% tariff, up from the previous 24% rate announced on April 2. South Korea remains unchanged at 25%, maintaining the level previously set.
Trump’s tariff announcement also reaffirms a 36% rate for Thai exports to the U.S., unchanged from early April, while Malaysia’s tariff rises to 25% from 24%. Laos, on the other hand, will see its duty reduced to 40% from 48%.
The analyst assessed that these higher U.S. tariff rates—especially the 36% imposed on Thailand, which is above many peers—are likely to negatively affect the SET Index on Tuesday.
Following these developments, CGSI highlights Praram 9 Hospital Public Company Limited (SET: PR9), citing the hospital’s strong potential for revenue growth fueled by a rising number of international patients in the third quarter of 2025.
The brokerage firm expects this positive momentum to continue through 2025 and 2026, as increased medical tourism is set to drive up inpatient revenues from 2025 to 2027, enhancing both margins and overall profitability for the company.
For Advanced Info Service Public Company Limited (SET: ADVANC), also known as AIS, CGSI projects a robust net profit of THB 11 billion for the second quarter of 2025, marking a 28.1% increase year-on-year and a 3.8% rise quarter-on-quarter. This would lead the 1H25 earnings to account for 54% of the broker’s full-year earnings estimate for the company.
Notably, ADVANC maintains a low debt-to-equity ratio, which CGSI expects will enable the company to sustain its dividend payments even as it faces the first installment of its spectrum license fees in the third quarter.
